Rio de Janeiro, March 2, 2016 – Petróleo Brasileiro S.A. – Petrobras, with respect to the sale of its equity interest in Petrobras Argentina, disclosed by Material Fact in 01/20/2016, informs that its Executive Board has approved the conduct of negotiations with Pampa Energia, on an exclusive basis, for 30 days and may be extended for the same period.

This transaction is still subject to approval of its final terms and conditions by the Executive Board and the Board of Directors of Petrobras, as well as the appropriate regulatory agencies.

Facts deemed relevant on the subject will be timely announced to the market.